Add-on·Energy/Infrastructure Services·June 30, 2026
I Squared-backed Bear River Midstream acquires Spire Storage
The add-on brings natural gas storage business with facilities in Wyoming and Oklahoma to the platform, with transaction terms undisclosed in the announcement.
Takeaways
- Spire Storage is a natural gas storage business with facilities in Wyoming and Oklahoma.
- Bear River Midstream is acquiring Spire Storage with backing from I Squared Capital.
- The target serves utilities, pipelines, power generators, industrial customers, and energy producers across United States.
BuyerBear River Midstream
TargetSpire Storage
SponsorI Squared Capital
SellerSpire
TypeAdd-on
GeographyUnited States
IndustryEnergy
Sub-sectorInfrastructure Services
Bear River Midstream, a newly formed I Squared Capital portfolio company, acquired Spire Storage, a natural gas storage business with 55 Bcf of working gas capacity in Wyoming and 17 Bcf in Oklahoma.
The $650 million transaction helps Spire focus on its core regulated utility operations.
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